Australia's Fortescue to build U.S. plant for hydrogen, EV tech

Miner advances diversification into clean energy supply chain

20231117N Fortescue

Fortescue Metals Group is working to reduce its dependence on its mainstay iron ore operations. © Reuters

KOSUKE INOUE, Nikkei staff writer

SYDNEY -- Fortescue Metals Group plans to spend $35 million on a new manufacturing plant in the U.S. for hydrogen generators, electric vehicle batteries, fast chargers and other products related to clean energy.

The investment comes as the Australian miner pushes into new fields to cut its its earnings dependence on iron ore.

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